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U.S. stocks fell after President Donald Trump threatened 50% tariffs on the European Union that could begin in a little more than a week.
The S&P 500 lost 0.7% Friday and had its worst week in the last seven. The Dow Jones Industrial Average dropped 0.6%, and the Nasdaq composite sank 1%.
The losses were sharper in Europe after Trump said trade talks were going nowhere. Apple dropped after Trump threatened a 25% tariff on smart phones made outside the United States. U.S. stocks pared their loss through the day as traders weighed whether Trump’s latest threats were just negotiating tactics.
On Friday:
The S&P 500 fell 39.19 points, or 0.7%, to 5,802.82.
The Dow Jones Industrial Average fell 256.02 points, or 0.6%, to 41,603.07
The Nasdaq composite fell 188.53 points, or 1%, to 18,737.21.
The Russell 2000 index of smaller companies fell 5.71 points, or 0.3%, to 2,039.85.
For the week:
The S&P 500 is down 155.56 points, or 2.6%.
The Dow is down 1,051.67 points, or 2.5%.
The Nasdaq is down 473.89, or 2.5%.
The Russell 2000 is down 73.40 points, or 3.5%.
For the year:
The S&P 500 is down 78.81 points, or 1.3%.
The Dow is down 941.15 points, or 2.2%.
The Nasdaq is down 573.59, or 3%.
The Russell 2000 is down 190.31 points, or 8.5%.